Shareholders should , also ,demand listing of Macrofil Investments in NSE / BSE

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Till date, the most powerful tool in the hands of minority shareholders has been bringing a suit for oppression and mismanagement, said Suhail Nathani, managing partner, Economic Law Practice. "Under the 2013 Companies Act, Section 245, over 100 shareholders can also file a class action suit but its application and enforcement is still nascent," he said.

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Recently Digvijay Finlease made a proposal of consolidating the face value of its share from Rs. 10 to Rs. 1000. Those holding fractions i.e. holding 1 to 99 shares were to be compulsorily paid Rs. 200 per Rs. 10 share. The intrinsic NAV of one share of Digvijay Finlease ( Rs. 10 paid up ) had been worked out by some to be Rs.40,000 .

After shareholders raised the matter with the Company. Ministry of Corporate Affairs , New Delhi and NCLT , Digvijay was forced to withdraw this Anti Small Shareholder step .

Macrofil Investments Ltd. was incorporated by Bombay Dyeing. The investments of Bombay Dyeing were transferred to this company. The shareholders of Bomaby Dyeing were offered subscription of shares of this company. Very few applied. Most of new shares were allotted to promoters of Bombay Dyeing.

Macrofil Investments Limited holds , at cost price, a large holding of other group companies mainly National Peroxide Ltd. The market worth of the holdings is many times the book value .The company had offered Buy Backs and further reduced the share capital.

November 23, 2016

===================== New Bank of India historyNBI Industrial Finance Limited was originally incorporated in Lahore in 1936 as The New Bank of India Limited. Dr. Ganeshi Lal Aggarwal and Mr M.R. Kohli ( Managing Director ) were the original promoters.------------This bank was founded on 21 /12/ 1936 in Lahore. in the name of "The New Bank Limited" under the Companies Act, 1913. The name of the company was subsequently changed to "The New Bank of India Limited" with effect from 4th November, 1941.The registered office was moved to Amritsar in 1947[1], an after-effect of partition.

Dr Ganeshi Lal Aggarwal, M. R. Kohli, Mulk Raj Aggarwal, Amolak Ram Suri, Jhabar Mal Chokhani, and Rai Sahi Lala Labha Ram were the early directors of this bank. Almost the same set of people also promoted Jupiter Investment Trust[3], from the same address — Sunlight Buildings, Mall, Lahore. [2] Jupiter Investment Trust’s HO was also moved to Amritsar in 1947, and in 1956 to Delhi.

. To provide for the losses due to partition the face value of the share was reduced from Rs. 25 to Rs. 5 . ( please recheck this ) New / Current Promoters Benu Gopal Bangur group.

In 1980, The New Bank of India Ltd. was nationalised. Most of the non promoter shareholders took cash compensation.Name changed from New Bank of India to NBI Industrial Finance wef May 26, 1981--------------------

shares of NBI IndustrialLimited should soon be moved to the DISSEMINATION BOARD of NSE / BSE 2 ) SEBI has further directed that DISSEMINATION BOARD is only a temporary step. Such Companies either officially DELIST or RELIST in

General Warning : Investment in Shares Can be Injurious to Your WEALTHCaution :The blog writer has personal/ family members' holdings in this Company, so please make suitable "provisions " for likely over optimism( NB : All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog . )